Markforged Holding Corporation (MKFG) Stock Technical Analysis
NYSE:MKFG - New York Stock Exchange, Inc. - US57064N2018 - Common Stock - Currency: USD
Overall MKFG gets a technical rating of 8 out of 10. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, MKFG is only an average performer.
Besides having an excellent technical rating, MKFG also presents a decent setup pattern. Prices have been consolidating lately. A pullback is taking place, which may present a nice opportunity for an entry. There is a resistance zone just above the current price starting at 4.75. Right above this resistance zone may be a good entry point. We notice that large players showed an interest for MKFG in the last couple of days, which is a good sign. Another positive sign is the recent Pocket Pivot signal.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
- A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.
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3 important support areas can be observed.
- A support zone ranging from 4.68 to 4.73. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @4.60 from a horizontal line in the daily time frame.
- Support @2.55 from a trend line in the weekly time frame.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 4.75 to 4.79. This zone is formed by a combination of multiple trend lines in multiple time frames.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | UP | POSITIVE | The long term trend for MKFG is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for MKFG is up. |
| ChartMill Relative Strength | 73.2 | POSITIVE | MKFG has a high relative strength, it outperformed 73.2% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of MKFG is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of MKFG is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | MIXED | The current price of MKFG is above a declining SMA(200). |
| Relative Strength Index/RSI (14) | 68.6 | NEUTRAL | The RSI value for MKFG is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.06 | NEGATIVE | The MACD value suggests MKFG has a negative trend. |
| Stochastics (14,3) | 74.13 | NEUTRAL | The Stochastics value for MKFG is a neutral value. |
| Average True Range in percent/ATR (20) | 3.54 | MEDIUM VOLATILITY | The ATR as a percentage value for MKFG suggests some volalility. |
| Average Directional Index/ADX (14) | 47 | POSITIVE | The high ADX value value for MKFG suggests a strong trend. |
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 4.80 | 4.67 | 0.13 (2.71%) | 25.00% |
| An entry @4.80. This is a Buy Stop order right above the resistance zone. | An exit @4.67. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 0.13 points, which is 2.71%. | For a 0.68% total portfolio risk, you can invest 25.00% of your capital in this trade. |
- The distance between exit and entry is rather small compared to the average daily movement of MKFG. Please evaluate whether better entry and exit points can be found.
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
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-0.02 (-0.42%)